ISLAMABAD: The Ministry of Foreign Affairs (MOFA) has stated that Pakistan is returning matured financial deposits to the United Arab Emirates (UAE) as per mutually agreed terms.
The deposits were placed under bilateral commercial agreements, demonstrating the UAE’s strong support for Pakistan’s economic stability.
“The return of these deposits is a routine financial transaction. Any attempt to portray it otherwise is erroneous and misleading,” the MOFA spokesperson said on Saturday.
Some media reports had suggested Pakistan was being forced to return the USD 3.5 billion deposits, which was portrayed as a sign of relations between the countries amid the Middle East tensions. However, the spokesperson emphasised that Pakistan and the UAE have a strong partnership based on trust and cooperation in trade, investment, defense, and people-to-people ties.
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Rejecting “unfounded” commentary regarding the repayment of the deposits, the MOFA spokesperson stated that pursuant to mutually agreed terms, the government of Pakistan, through the State Bank of Pakistan (SBP), is returning the matured deposits to the UAE.
The spokesperson asserted that Pakistan and the UAE share a longstanding and fraternal partnership built on trust and strategic cooperation across trade, investment, defence, and people-to-people ties.
The spokesperson added that this relationship has stood the test of time and has grown stronger with each passing year. The people of Pakistan warmly cherish the pivotal role played by His Highness, the late Sheikh Zayed bin Sultan Al Nahyan, in forging this enduring friendship, as well as his special affection for Pakistan.
Pakistan remains fully committed to further strengthening this enduring relationship for a shared, prosperous future.
Copyright Business Recorder, 2026
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